Date: 12/08/1999 3:00 PM
Subject: S7-24-99
Dear SEC
I am writing in regards to the proposed law concerning the short selling of
OTCBB stocks(Proposal # S7-24-99). The naked shorting of OTCBB stocks should
be eliminated. One of the main reasons why "penny" stocks are so risky and
volatile is not solely because of the companies themselves, but because of
the rampant naked shorting by market makers and offshore brokers. This
activity goes unchecked everyday and must be dealt with accordingly.
The abolition of naked shorting in conjunction with the requirements of
being fully reporting will ensure a fair and equitable market for investors
and companies alike, a market where a company's true value is reflected in
the price and not distorted, suppressed or inflated artificially by
manipulation.
Sincerely,
JEFF and Christine Cox